Free crypto, NFT and blockchain domains are to be provided to all women resident in Abu Dhabi.
Access Abu Dhabi and the Abu Dhabi Investment Office (Adio) have teamed up with Web3 identity platform and NFT domain name provider Unstoppable Domains for the giveaway.
It aims to provide opportunities for more women to learn about and participate in Web3. This is a space where only 5 per cent to 7 per cent of all cryptocurrency users are women and just 12 per cent work in blockchain, Adio said in a statement on Thursday.
Web3 is the emerging third generation of the World Wide Web — blockchain, decentralisation, openness and greater user utility are among its core components — while Web2 is the current iteration.
“Abu Dhabi is ensuring the future of Web3 is built around a powerful infrastructure that appeals to all members of the community," said Abdulla Al Shamsi, acting director general of Adio.
"By supporting initiatives that invite and uplift women, we can champion diversity early in the Web3 era. The partnership with Unstoppable Domains to provide free crypto domains to all women in Abu Dhabi embodies the emirate’s promise of inclusion, while creating opportunities for private sector participation in a fast-growing space.”
The initiative provides women with a decentralised web address and digital identity that gives them control of their data and content within a space that they fully own, as opposed to Web2 domains, which are leased for fixed periods through third-party brokers.
Web3's market size is expected to be valued at about $6.2 billion in 2023 and is projected to grow at a compound annual rate of 44.6 per cent from 2023 to 2030, according to Market Research Future.
Women in Abu Dhabi can visit Unstoppable Domains’ website through the link https://unstoppabledomains.com/?gift=WoW3AbuDhabi to get the free domain.
